Regeneron (REGN) Q3 2026 Earnings Report
MX:REGN Q3 2026 EPS Results
- Actual EPS
- MXN 377.04
- Consensus EPS
- MXN 310.16
- Beat/Miss
- Beat by +MXN 66.88
- One Year Ago EPS
- MXN 222.24
MX:REGN Q3 2026 Revenue Results
- Actual Revenue
- MXN 96.11B
- Expected Revenue
- MXN 86.12B
- Beat/Miss
- Beat by +MXN 9.98B
- YoY Revenue Growth
- +36.27%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/30/2026
- Time
- Before Open
- Conference Call
- Friday, October 30, 2026
MX:REGN Upcoming Earnings
Regeneron's next earnings date is estimated for January 29, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:REGN Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, supported by 36% revenue growth, 70% earnings-per-share growth, record sales for Dupixent, EYLEA HD, and Libtayo, strong cash generation, an expanded Sanofi alliance, and substantial progress across a broad clinical pipeline. The principal challenges were declining EYLEA sales and demand, biosimilar and pricing pressure, modest lynozyfic growth in its current setting, a higher expected tax rate, and no anticipated Inmazeb revenue in the fourth quarter of 2026. Highlights significantly outweighed the lowlights.
Company Guidance
For the fourth quarter, EYLEA HD sequential growth is expected to be approximately 10%, partially offset by ongoing pricing pressure, while EYLEA sequential demand is expected to decline in the low- to mid-teens; full year EYLEA HD net sales growth is expected to be over 50% compared with 2025, full year share repurchases are expected to total approximately $3 billion, and 2027 R&D expense is expected to increase by a mid teens percentage compared with 2026, with 100 to 200 basis points of upward pressure on the 2027 effective tax rate relative to 2026. Regeneron does not anticipate recording any revenue in the fourth quarter of 2026 for Inmazeb and expects to supply additional treatment doses to the US government beginning in late 2027 through 2031; it also expects an FDA decision for cemdisiran in November, a European Commission decision in the second half of 27, pivotal results for the knee replacement factor 11 program starting next year, a potentially registrational POTS study in the first half of next year, and registrational studies of the olatorepatide and Praluent combination next year.
- Strong Third-Quarter Revenue and Earnings GrowthTotal revenue increased 36% year over year to $5.1 billion, while non-GAAP diluted earnings per share increased 70% to $20.07. The company reported its third consecutive quarter of double-digit growth in both revenue and earnings.
- Record Dupixent PerformanceGlobal Dupixent net sales reached a record $6.5 billion, up 35% year over year at constant currency. U.S. net sales grew 40% to $5.1 billion, driven by robust demand across all indications and age groups, as well as favorable gross-to-net adjustments. More than 1.5 million patients are currently treated worldwide across 9 Type 2 inflammatory diseases.
- EYLEA HD Reached New U.S. Sales HighU.S. EYLEA HD quarterly net sales reached approximately $700 million, up 62% from the prior year, and represented nearly two-thirds of the U.S. retinal franchise. Physician unit demand increased 20% sequentially, reflecting the value of extended dosing intervals and prior label enhancements.
- Libtayo Delivered Strong GrowthGlobal Libtayo net sales reached a record $550 million, up 51% year over year at constant currency, while U.S. net sales grew 81% to nearly $400 million. Libtayo remained the leading immunotherapy in U.S. non-melanoma skin cancer and the second most prescribed immunotherapy in non-small cell lung cancer.
- Positive Long-Term Libtayo Clinical DataThe company presented long-term Phase III c-POST data showing an increasing overall survival benefit for adjuvant Libtayo in high-risk cutaneous squamous cell carcinoma, where Libtayo is the first and only approved immunotherapy.
- High Collaboration Revenue and Profit GrowthSanofi collaboration revenue reached an all-time high of $2.7 billion, including $2.6 billion from Regeneron's share of collaboration profits. Regeneron's share of profits increased 77% year over year, primarily due to continued Dupixent sales growth, repayment of the Sanofi development balance, and recognition of the full share of collaboration profits for the first time.
- Expanded Sanofi AllianceRegeneron and Sanofi expanded their alliance to advance 4 next-generation, fully human, VelocImmune-derived long-acting antibodies and bispecifics targeting Type 2 inflammation. The companies will share development and commercialization costs and global profits equally, while existing economic terms for Dupixent and Kevzara remain unchanged. Regeneron expects to record the full $1 billion upfront payment as Sanofi collaboration revenue in the fourth quarter.
- Cemdisiran Regulatory MilestoneAn FDA decision for cemdisiran in generalized myasthenia gravis is expected in November, with a European Commission decision anticipated in the second half of 2027. If approved, cemdisiran would be the first and only approved siRNA therapy for generalized myasthenia gravis and would offer subcutaneous dosing four times per year.
- Cemdisiran Launch PreparationRegeneron said launch activities for cemdisiran are well underway and that the company is launch ready ahead of the November PDUFA date. The company cited the therapy's rapid onset, durable efficacy, novel siRNA modality, and convenient four-times-per-year subcutaneous dosing as potential commercial advantages.
- CIDEB Produced Substantial Early NASH DataIn an initial study of 40 participants, a single dose of the CIDEB siRNA was well tolerated and reduced liver fat by approximately 70% on average from baseline in 12 weeks. The reduction was durable through 24 weeks and was accompanied by improvements in liver enzymes. Regeneron is rapidly advancing the program into registration-enabling studies.
- POTS Program Showed Sustained ImprovementsAfter a single high dose of REGN751 in a Phase II study, the company observed improvements in tachycardia and orthostatic symptoms that were sustained for 4 weeks. The improvements appeared associated with durable restoration of intravascular volume, and a potentially registrational study is planned for the first half of next year pending regulatory feedback.
- Uबamatamab Demonstrated High Response RatesUbamatamab, Regeneron's MUC16xCD3 bispecific antibody, showed an approximately 70% objective response rate with prolonged progression-free survival in women with advanced low-grade serous ovarian cancer. The company described the safety profile as acceptable and said no biomarker selection was required. A potentially registrational cohort is enrolling, with a confirmatory Phase III trial planned for mid-2027.
- Broad Late-Stage Oncology PipelineLynozyfic is advancing through studies in multiple myeloma, including confirmatory, first-line, combination, light-chain amyloidosis, and high-risk smoldering myeloma programs, with pivotal readouts beginning next year. Odronextamab has a regulatory application under FDA review for relapsed or refractory diffuse large B-cell lymphoma with a February 2027 target action date, and a Phase III first-line follicular lymphoma study is fully enrolled.
- Factor XI Program Advanced Into Phase IIIAll but one planned Phase III study of the Factor XI inhibitors cinvassabur and abelacimab are enrolling patients. The studies cover venous thromboembolism prevention after total knee replacement, stroke prevention in atrial fibrillation, cancer-associated thrombosis, peripheral artery disease, and venous thromboembolism prevention in patients with peripherally inserted central catheters. The remaining secondary stroke prevention study is expected to begin enrollment by year end.
- Obesity and Cardiovascular-Risk Combination StrategyRegeneron plans to begin global Phase III studies of olatorepatide, a dual GLP-1/GIP receptor agonist licensed from Hansoh, and intends to evaluate a coformulation with Praluent. The company said the combination could address obesity, Type 2 diabetes, hypercholesterolemia, and increased cardiovascular risk, with registrational studies planned for next year.
- Next-Generation Type 2 Inflammation Programs AdvancedThe lead long-acting IL-13 antibody, designed for a target dosing interval of every 3 to 6 months, is enrolling patients with atopic dermatitis. Registrational trials are expected to begin in late 2027 and 2028, while three additional long-acting programs are expected to enter the clinic next year.
- Potential Targeted Treatment for Food AllergyRegeneron plans to begin clinical studies in the first half of 2027 for a new bispecific antibody designed to selectively eliminate IgE-producing, allergy-causing plasma cells. The program builds on early results combining a BCMA bispecific with Dupixent in severe food allergy.
- Commercial Portfolio and Launch ExpansionPalovarotene was approved in the U.S. for ultra-rare fibrodysplasia ossificans progressiva, and Regeneron launched Otoferlin for genetic hearing loss and Palovarotene for FOP. The company said initial progress for both brands was promising. Evkeeza U.S. net sales increased 28% year over year to $55 million.
- Strong Cash Generation and Capital DeploymentRegeneron generated $2.9 billion of free cash flow during the first 9 months of 2026 and ended the quarter with $16.2 billion of cash and marketable securities net of debt. The company deployed nearly $3 billion across share repurchases, business development, and dividends, including $2.3 billion to repurchase 3.2 million shares. Full-year share repurchases are expected to total approximately $3 billion.
- Large and Diverse PipelineThe company reported approximately 50 clinical programs spanning immunology, oncology, ophthalmology, hematology, cardiovascular and metabolic diseases, neurology, and rare diseases. Regeneron expects to advance nearly 15 Phase III trials and expects 2027 research and development expense to increase by a mid-teens percentage compared with 2026.
MX:REGN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 29, 2027 | 2026 (Q4) | 455.49- | 214.91 | ― | ― |
| Oct 30, 2026 | 2026 (Q3) | 310.16377.04 | 222.24 | 69.65% (+154.80) | |
| Jul 30, 2026 | 2026 (Q2) | 190.81268.45 | 242.15 | 10.86% (+26.30) | |
| Apr 29, 2026 | 2026 (Q1) | 167.46177.90 | 154.42 | 15.21% (+23.48) | |
| Jan 30, 2026 | 2025 (Q4) | 201.69214.91 | 226.75 | -5.22% (-11.84) | |
| Oct 28, 2025 | 2025 (Q3) | 181.38222.24 | 234.07 | -5.06% (-11.84) | |
| Aug 07, 2025 | 2025 (Q2) | 158.39242.15 | 217.17 | 11.51% (+24.99) | |
| Apr 29, 2025 | 2025 (Q1) | 161.97154.42 | 179.41 | -13.93% (-24.99) | |
| Feb 04, 2025 | 2024 (Q4) | 211.94226.75 | 222.8 | 1.77% (+3.95) | |
| Oct 31, 2024 | 2024 (Q3) | 219.70234.07 | 217.73 | 7.51% (+16.34) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed